The booth of Johnson & Johnson Medical at an international medical equipment exhibition in Beijing [Photo provided to China Daily]
JLABS@Shanghai, an incubator site for startup companies launched by US healthcare giant Johnson & Johnson, will be put into operation in Zhangjiang Science City in Pudong New Area on June 27, local media has reported.
Launched in 2017, the 4,400-square-meter incubator is the first of its kind outside North America and will be able to house 50 innovative startups specializing in life science and healthcare.
It will be equipped with cutting-edge modular and scalable lab space and state-of-the-art equipment, and provide startups with professional support in technology, industry and fundraising. It will also feature the JLABS device and digital prototype lab, providing entrepreneurs with access to highly specialized tools and skills-building programs to design and develop smart health technologies.
The JLABS@Shanghai will be run by Johnson & Johnson Innovation and Zhangjiang Drug Valley Public Service Platform according to a mutual agreement. The partnership will last for 10 years.
Last June, Johnson & Johnson Innovation launched its Innovate QuickFire Challenge in Shanghai, aiming to explore new solutions for lung health and combatting lung cancer in China and around the world.
"China is playing an increasingly important role in today's global health innovation ecosystem with its competitive advantages in terms of talents, scale, development speed, financing and business environment. Johnson & Johnson also intends to bet its future on China," said an official from Johnson & Johnson Innovation.
Zhangjiang, known as China's Silicon Valley, now houses more than 130 multinational companies with abundant international resources.